RiverPark Short Term High Yield Fund
Name
As of 04/24/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
1.7%
1 yr return
6.0%
3 Yr Avg Return
3.7%
5 Yr Avg Return
2.9%
Net Assets
$778 M
Holdings in Top 10
42.8%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 1.19%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 158.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 04/24/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
RPHYX - Profile
Distributions
- YTD Total Return 1.7%
- 3 Yr Annualized Total Return 3.7%
- 5 Yr Annualized Total Return 2.9%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 1.76%
- Dividend Yield 4.3%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameRiverPark Short Term High Yield Fund
-
Fund Family NameRiverPark Funds
-
Inception DateSep 30, 2010
-
Shares Outstanding3322479
-
Share ClassIndividual
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerDavid Sherman
Fund Description
RiverPark Short Term seeks high current income and capital appreciation consistent with the preservation of capital by investing in short term debt, securities issued by the U.S. Government, its agencies and instrumentalities, preferred stock, special purpose acquisition companies (“SPACs”), convertible bonds, bank loans and high yield bonds (collectively, “Securities”), that Cohanzick Management, LLC (“Cohanzick”), RiverPark Short Term’s sub-adviser, deems appropriate for the Fund’s investment objective. Under normal circumstances, RiverPark Short Term will invest no less than 80% of its net assets (plus the amount of any borrowings for investment purposes) in high yield Securities rated BB or below by a Rating Agency or, if unrated, determined by Cohanzick to be of comparable quality. The Fund will maintain a dollar-weighted average effective maturity of no more than three years. However, the Fund may invest up to 25% of its assets in Securities that have not been called or tendered having a maturity date in excess of three years. The effective maturity of a Security will be defined as the shorter of the contractual maturity of a security or the date Cohanzick reasonably believes that because of a Qualifying Feature (as described below) a Security will be redeemed earlier than the contractual maturity date. “Qualifying Feature” means any of the following: (a) an announcement, or when Cohanzick reasonably believes such an announcement will be made, of the issuer such as an issuer announcement of an early redemption; (b) a relevant contractual feature of the Security, such as provisions allowing holders a mandatory put date; (c) a specific attribute of such Security such as contractual sinking fund requirements and/or cash flow sweeps.
In addition to considering economic factors such as the effect of interest rates on RiverPark Short Term’s investments, Cohanzick applies a “bottom up” approach in choosing investments. This means that Cohanzick looks at Securities one at a time to determine if a Security is an attractive investment opportunity and if it is consistent with the Fund’s investment objective. If Cohanzick is unable to find such investments, the Fund’s uninvested assets may be held in cash or similar investments, subject to the Fund’s specific investment objective. Securities are generally held in the Fund’s portfolio until maturity or effective maturity. However, a Security may be sold prior to maturity. For example, a Security may be sold prior to maturity in light of a corporate action or announcement affecting the issuer. In addition, a Security may be purchased at a discount and/or sold prior to maturity where Cohanzick believes it is advantageous to do so.
RPHYX - Performance
Return Ranking - Trailing
Period | RPHYX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 1.7% | -7.6% | 7.3% | 13.79% |
1 Yr | 6.0% | -8.1% | 17.2% | 91.51% |
3 Yr | 3.7%* | -16.6% | 20.0% | 3.77% |
5 Yr | 2.9%* | -12.2% | 36.5% | 56.77% |
10 Yr | 2.6%* | -5.0% | 19.4% | 74.71% |
* Annualized
Return Ranking - Calendar
Period | RPHYX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 0.6% | -4.7% | 14.3% | 97.66% |
2022 | -0.5% | -33.4% | 3.6% | 0.47% |
2021 | 0.0% | -8.4% | 14.9% | 50.82% |
2020 | -0.4% | -13.9% | 302.7% | 54.39% |
2019 | -0.2% | -4.4% | 13.3% | 97.92% |
Total Return Ranking - Trailing
Period | RPHYX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 1.7% | -7.6% | 7.3% | 13.79% |
1 Yr | 6.0% | -8.1% | 17.2% | 91.51% |
3 Yr | 3.7%* | -16.6% | 20.0% | 3.77% |
5 Yr | 2.9%* | -12.2% | 36.5% | 56.77% |
10 Yr | 2.6%* | -5.0% | 19.4% | 74.71% |
* Annualized
Total Return Ranking - Calendar
Period | RPHYX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 5.6% | -4.7% | 18.2% | 96.10% |
2022 | 2.7% | -33.4% | 47.8% | 1.10% |
2021 | 1.8% | -8.4% | 24.8% | 93.28% |
2020 | 1.8% | -9.6% | 325.6% | 91.05% |
2019 | 2.4% | 0.9% | 21.5% | 99.31% |
NAV & Total Return History
RPHYX - Holdings
Concentration Analysis
RPHYX | Category Low | Category High | RPHYX % Rank | |
---|---|---|---|---|
Net Assets | 778 M | 1.45 M | 23.6 B | 39.14% |
Number of Holdings | 59 | 2 | 2736 | 97.06% |
Net Assets in Top 10 | 334 M | -492 M | 4.55 B | 16.10% |
Weighting of Top 10 | 42.84% | 4.2% | 146.9% | 5.42% |
Top 10 Holdings
- ICAHN ENTERPRISES LP / ICAHN ENTERPRISES FINANCE C 4.750000% 09/15/2024 6.35%
- VITAL ENERGY INC 9.500000% 01/15/2025 6.14%
- DOCUSIGN INC ZERO COUPON 01/15/2024 5.91%
- PDC ENERGY INC 5.750000% 05/15/2026 4.58%
- UBS GROUP AG 144A 7.000000% MATURITY: PERPETUAL 4.57%
- FORD MOTOR CREDIT CO LLC 3.810000% 01/09/2024 3.47%
- VALVOLINE INC 144A 4.250000% 02/15/2030 3.22%
- CROWNROCK LP / CROWNROCK FINANCE INC 144A 5.625000% 10/15/2025 2.95%
- PERFORMANCE FOOD GROUP INC 144A 6.875000% 05/01/2025 2.89%
- CVR ENERGY INC 144A 5.250000% 02/15/2025 2.76%
Asset Allocation
Weighting | Return Low | Return High | RPHYX % Rank | |
---|---|---|---|---|
Bonds | 97.93% | -3.13% | 154.38% | 7.70% |
Convertible Bonds | 6.49% | 0.00% | 17.89% | 2.32% |
Cash | 2.13% | -52.00% | 48.07% | 77.55% |
Stocks | 0.00% | 0.00% | 99.54% | 72.57% |
Preferred Stocks | 0.00% | 0.00% | 7.88% | 79.26% |
Other | -0.07% | -63.70% | 102.57% | 91.02% |
Stock Sector Breakdown
Weighting | Return Low | Return High | RPHYX % Rank | |
---|---|---|---|---|
Financial Services | 99.82% | 0.00% | 100.00% | 3.65% |
Technology | 0.18% | 0.00% | 33.17% | 27.53% |
Utilities | 0.00% | 0.00% | 100.00% | 74.72% |
Real Estate | 0.00% | 0.00% | 86.71% | 71.91% |
Industrials | 0.00% | 0.00% | 93.12% | 74.72% |
Healthcare | 0.00% | 0.00% | 22.17% | 70.51% |
Energy | 0.00% | 0.00% | 100.00% | 90.17% |
Communication Services | 0.00% | 0.00% | 99.99% | 86.24% |
Consumer Defense | 0.00% | 0.00% | 100.00% | 72.19% |
Consumer Cyclical | 0.00% | 0.00% | 100.00% | 78.09% |
Basic Materials | 0.00% | 0.00% | 100.00% | 73.60% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | RPHYX % Rank | |
---|---|---|---|---|
US | 0.00% | 0.00% | 99.54% | 70.74% |
Non US | 0.00% | -0.01% | 0.83% | 70.12% |
Bond Sector Breakdown
Weighting | Return Low | Return High | RPHYX % Rank | |
---|---|---|---|---|
Corporate | 60.70% | 0.00% | 129.69% | 97.36% |
Cash & Equivalents | 0.80% | 0.00% | 48.07% | 76.78% |
Securitized | 0.00% | 0.00% | 97.24% | 82.02% |
Municipal | 0.00% | 0.00% | 4.66% | 68.37% |
Government | 0.00% | 0.00% | 99.07% | 75.19% |
Derivative | -0.07% | -15.04% | 42.26% | 93.34% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | RPHYX % Rank | |
---|---|---|---|---|
US | 94.94% | -3.13% | 129.21% | 34.83% |
Non US | 2.99% | 0.00% | 98.19% | 25.70% |
RPHYX - Expenses
Operational Fees
RPHYX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.19% | 0.04% | 31.61% | 35.29% |
Management Fee | 0.65% | 0.00% | 1.84% | 77.62% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | 0.13% | 0.00% | 0.50% | 63.54% |
Sales Fees
RPHYX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 2.25% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
RPHYX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 1.00% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
RPHYX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 158.00% | 1.00% | 255.00% | 98.98% |
RPHYX - Distributions
Dividend Yield Analysis
RPHYX | Category Low | Category High | RPHYX % Rank | |
---|---|---|---|---|
Dividend Yield | 4.32% | 0.00% | 11.76% | 78.46% |
Dividend Distribution Analysis
RPHYX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
RPHYX | Category Low | Category High | RPHYX % Rank | |
---|---|---|---|---|
Net Income Ratio | 1.76% | -2.39% | 14.30% | 99.06% |
Capital Gain Distribution Analysis
RPHYX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Apr 01, 2024 | $0.035 | OrdinaryDividend |
Mar 01, 2024 | $0.046 | OrdinaryDividend |
Feb 01, 2024 | $0.043 | OrdinaryDividend |
Dec 29, 2023 | $0.070 | OrdinaryDividend |
Dec 01, 2023 | $0.039 | OrdinaryDividend |
Nov 01, 2023 | $0.042 | OrdinaryDividend |
Oct 02, 2023 | $0.038 | OrdinaryDividend |
Sep 01, 2023 | $0.045 | OrdinaryDividend |
Aug 01, 2023 | $0.032 | OrdinaryDividend |
Jul 03, 2023 | $0.038 | OrdinaryDividend |
Jun 01, 2023 | $0.044 | OrdinaryDividend |
May 01, 2023 | $0.029 | OrdinaryDividend |
Apr 03, 2023 | $0.032 | OrdinaryDividend |
Mar 01, 2023 | $0.026 | OrdinaryDividend |
Feb 01, 2023 | $0.033 | OrdinaryDividend |
Dec 30, 2022 | $0.139 | OrdinaryDividend |
Dec 01, 2022 | $0.020 | OrdinaryDividend |
Nov 01, 2022 | $0.024 | OrdinaryDividend |
Oct 03, 2022 | $0.023 | OrdinaryDividend |
Sep 01, 2022 | $0.024 | OrdinaryDividend |
Aug 01, 2022 | $0.014 | OrdinaryDividend |
Jul 01, 2022 | $0.009 | OrdinaryDividend |
Jun 01, 2022 | $0.021 | OrdinaryDividend |
May 02, 2022 | $0.012 | OrdinaryDividend |
Apr 01, 2022 | $0.006 | OrdinaryDividend |
Mar 01, 2022 | $0.003 | OrdinaryDividend |
Feb 01, 2022 | $0.013 | OrdinaryDividend |
Dec 31, 2021 | $0.043 | OrdinaryDividend |
Dec 01, 2021 | $0.012 | OrdinaryDividend |
Nov 01, 2021 | $0.010 | OrdinaryDividend |
Oct 01, 2021 | $0.005 | OrdinaryDividend |
Sep 01, 2021 | $0.010 | OrdinaryDividend |
Aug 02, 2021 | $0.011 | OrdinaryDividend |
Jul 01, 2021 | $0.013 | OrdinaryDividend |
Jun 01, 2021 | $0.007 | OrdinaryDividend |
May 03, 2021 | $0.019 | OrdinaryDividend |
Apr 01, 2021 | $0.019 | OrdinaryDividend |
Mar 01, 2021 | $0.014 | OrdinaryDividend |
Feb 01, 2021 | $0.010 | OrdinaryDividend |
Dec 31, 2020 | $0.025 | OrdinaryDividend |
Dec 01, 2020 | $0.017 | OrdinaryDividend |
Nov 02, 2020 | $0.016 | OrdinaryDividend |
Oct 01, 2020 | $0.019 | OrdinaryDividend |
Sep 01, 2020 | $0.019 | OrdinaryDividend |
Aug 03, 2020 | $0.021 | OrdinaryDividend |
Jul 01, 2020 | $0.016 | OrdinaryDividend |
Jun 01, 2020 | $0.015 | OrdinaryDividend |
May 01, 2020 | $0.014 | OrdinaryDividend |
Apr 01, 2020 | $0.022 | OrdinaryDividend |
Mar 02, 2020 | $0.010 | OrdinaryDividend |
Feb 03, 2020 | $0.016 | OrdinaryDividend |
Dec 31, 2019 | $0.023 | OrdinaryDividend |
Dec 02, 2019 | $0.012 | OrdinaryDividend |
Nov 01, 2019 | $0.017 | OrdinaryDividend |
Oct 01, 2019 | $0.020 | OrdinaryDividend |
Sep 03, 2019 | $0.022 | OrdinaryDividend |
Aug 01, 2019 | $0.025 | OrdinaryDividend |
Jul 01, 2019 | $0.019 | OrdinaryDividend |
Jun 03, 2019 | $0.022 | OrdinaryDividend |
May 01, 2019 | $0.022 | OrdinaryDividend |
Apr 01, 2019 | $0.023 | OrdinaryDividend |
Mar 01, 2019 | $0.022 | OrdinaryDividend |
Feb 01, 2019 | $0.024 | OrdinaryDividend |
Dec 31, 2018 | $0.022 | OrdinaryDividend |
Dec 03, 2018 | $0.022 | OrdinaryDividend |
Nov 01, 2018 | $0.023 | OrdinaryDividend |
Oct 01, 2018 | $0.019 | OrdinaryDividend |
Sep 04, 2018 | $0.023 | OrdinaryDividend |
Aug 01, 2018 | $0.022 | OrdinaryDividend |
Jul 02, 2018 | $0.024 | OrdinaryDividend |
Jun 01, 2018 | $0.022 | OrdinaryDividend |
May 01, 2018 | $0.019 | OrdinaryDividend |
Apr 02, 2018 | $0.015 | OrdinaryDividend |
Mar 01, 2018 | $0.019 | OrdinaryDividend |
Feb 01, 2018 | $0.020 | OrdinaryDividend |
Dec 29, 2017 | $0.008 | OrdinaryDividend |
Dec 01, 2017 | $0.022 | OrdinaryDividend |
Nov 01, 2017 | $0.012 | OrdinaryDividend |
Oct 02, 2017 | $0.023 | OrdinaryDividend |
Sep 01, 2017 | $0.021 | OrdinaryDividend |
Aug 01, 2017 | $0.023 | OrdinaryDividend |
Jul 03, 2017 | $0.023 | OrdinaryDividend |
Jun 01, 2017 | $0.020 | OrdinaryDividend |
May 01, 2017 | $0.029 | OrdinaryDividend |
Apr 03, 2017 | $0.022 | OrdinaryDividend |
Mar 01, 2017 | $0.018 | OrdinaryDividend |
Feb 01, 2017 | $0.018 | OrdinaryDividend |
Dec 30, 2016 | $0.014 | OrdinaryDividend |
Dec 01, 2016 | $0.016 | OrdinaryDividend |
Nov 01, 2016 | $0.027 | OrdinaryDividend |
Oct 03, 2016 | $0.022 | OrdinaryDividend |
Sep 01, 2016 | $0.022 | OrdinaryDividend |
Aug 01, 2016 | $0.024 | OrdinaryDividend |
Jul 01, 2016 | $0.015 | OrdinaryDividend |
Jun 01, 2016 | $0.028 | OrdinaryDividend |
May 02, 2016 | $0.021 | OrdinaryDividend |
Apr 01, 2016 | $0.023 | OrdinaryDividend |
Mar 01, 2016 | $0.025 | OrdinaryDividend |
Feb 01, 2016 | $0.021 | OrdinaryDividend |
Dec 31, 2015 | $0.027 | OrdinaryDividend |
Dec 01, 2015 | $0.015 | OrdinaryDividend |
Nov 02, 2015 | $0.028 | OrdinaryDividend |
Oct 01, 2015 | $0.025 | OrdinaryDividend |
Sep 01, 2015 | $0.024 | OrdinaryDividend |
Aug 03, 2015 | $0.026 | OrdinaryDividend |
Jul 01, 2015 | $0.023 | OrdinaryDividend |
Jun 01, 2015 | $0.019 | OrdinaryDividend |
May 01, 2015 | $0.025 | OrdinaryDividend |
Apr 01, 2015 | $0.026 | OrdinaryDividend |
Mar 02, 2015 | $0.024 | OrdinaryDividend |
Feb 02, 2015 | $0.023 | OrdinaryDividend |
Dec 31, 2014 | $0.037 | OrdinaryDividend |
Dec 01, 2014 | $0.027 | OrdinaryDividend |
Nov 03, 2014 | $0.026 | OrdinaryDividend |
Oct 01, 2014 | $0.030 | OrdinaryDividend |
Sep 02, 2014 | $0.037 | OrdinaryDividend |
Aug 01, 2014 | $0.035 | OrdinaryDividend |
Jul 01, 2014 | $0.031 | OrdinaryDividend |
Jun 02, 2014 | $0.027 | OrdinaryDividend |
May 01, 2014 | $0.022 | OrdinaryDividend |
Apr 01, 2014 | $0.029 | OrdinaryDividend |
Mar 03, 2014 | $0.037 | OrdinaryDividend |
Feb 03, 2014 | $0.025 | OrdinaryDividend |
Dec 31, 2013 | $0.023 | OrdinaryDividend |
Dec 02, 2013 | $0.028 | OrdinaryDividend |
Nov 01, 2013 | $0.036 | OrdinaryDividend |
Oct 01, 2013 | $0.022 | OrdinaryDividend |
Sep 03, 2013 | $0.016 | OrdinaryDividend |
Aug 01, 2013 | $0.028 | OrdinaryDividend |
Jul 01, 2013 | $0.024 | OrdinaryDividend |
Jun 03, 2013 | $0.022 | OrdinaryDividend |
May 01, 2013 | $0.024 | OrdinaryDividend |
Apr 01, 2013 | $0.029 | OrdinaryDividend |
Mar 01, 2013 | $0.032 | OrdinaryDividend |
Feb 01, 2013 | $0.029 | OrdinaryDividend |
Dec 31, 2012 | $0.035 | OrdinaryDividend |
Dec 03, 2012 | $0.032 | OrdinaryDividend |
Nov 01, 2012 | $0.036 | OrdinaryDividend |
Oct 01, 2012 | $0.035 | OrdinaryDividend |
Sep 04, 2012 | $0.030 | OrdinaryDividend |
Aug 01, 2012 | $0.030 | OrdinaryDividend |
Jul 02, 2012 | $0.039 | OrdinaryDividend |
Jun 01, 2012 | $0.033 | OrdinaryDividend |
May 01, 2012 | $0.035 | OrdinaryDividend |
Apr 02, 2012 | $0.023 | OrdinaryDividend |
Mar 01, 2012 | $0.029 | OrdinaryDividend |
Feb 01, 2012 | $0.036 | OrdinaryDividend |
Dec 30, 2011 | $0.026 | OrdinaryDividend |
Dec 01, 2011 | $0.033 | OrdinaryDividend |
Nov 01, 2011 | $0.018 | OrdinaryDividend |
Oct 03, 2011 | $0.037 | OrdinaryDividend |
Sep 01, 2011 | $0.026 | OrdinaryDividend |
Aug 01, 2011 | $0.030 | OrdinaryDividend |
Jul 01, 2011 | $0.039 | OrdinaryDividend |
Jun 01, 2011 | $0.031 | OrdinaryDividend |
May 02, 2011 | $0.033 | OrdinaryDividend |
Apr 01, 2011 | $0.043 | OrdinaryDividend |
Mar 01, 2011 | $0.059 | OrdinaryDividend |
Feb 01, 2011 | $0.013 | OrdinaryDividend |
Dec 31, 2010 | $0.047 | OrdinaryDividend |
Dec 01, 2010 | $0.040 | OrdinaryDividend |
Nov 01, 2010 | $0.023 | OrdinaryDividend |
RPHYX - Fund Manager Analysis
Managers
David Sherman
Start Date
Tenure
Tenure Rank
Sep 30, 2010
11.67
11.7%
David K. Sherman is the portfolio manager for RiverPark Short Term and RiverPark Strategic Income. Mr. Sherman, is the managing member of Cohanzick. Since 1996, Mr. Sherman, on behalf of Cohanzick Management, LLC , has managed accounts for various clients utilizing investment programs substantially similar to those intended to be used by the Fund. From January 1987 to August 1996, Mr. Sherman held various executive and director positions at Leucadia National Corporation and/or its subsidiaries. From August 1992 to August 1996, Mr. Sherman served as a Vice President of Leucadia with primary responsibility for the oversight of Leucadia's insurance companies' investment portfolios. Mr. Sherman holds a B.S. in Business Administration from Washington University.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.13 | 37.79 | 7.11 | 8.17 |